Hyundai Plans Buying FCA To Strengthen Its Global Operations

Hyundai Plans Buying FCA To Strengthen Its Global Operations

Russell Knight
|
04 July, 2018, 21:18

Chennai: Changes are the forefront in the automotive sector with the EV boom taking the centre stage. A source spoke to Autoblog and it revealed that Hyundai is waiting for FCA's shares to fall before pushing for a takeover. He anticipates a decline, and once that happens, the sources say the Hyundai CEO will pull the trigger on a takeover bid, which is slated to happen sometime before FCA's annual shareholders' meeting in the spring of next year when FCA CEO Sergio Marchionne is expected to step down. In addition, a free-trade agreement between the United States and South Korea would make transporting models between the countries a more economical process - especially in light of the possibility of higher tariffs on imported vehicles from the European Union.

The closer political ties between the US and South Korea might make the merger more palatable for regulators in the countries. That would not be the case with a Hyundai-FCA merger, rumors of which first surfaced previous year. And then later, they said they were in talks regarding a potential co-development plan for transmissions and hydrogen power solutions.

In 2017, there were also several reports that Hyundai and FCA were exploring a merger. Marchionne has previously stated he sees the future as merging with other automakers to reduce investment costs.

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Hyundai, however, has hit back at the rumours, with the company's senior group manager of corporate and marketing public relations Michael Stewart pointedly telling CNET'sRoadshow, "That rumor is totally groundless".

With this new possiblity coming to light, more news involving Hyundai and FCA could still keep blips on the industry's radar.

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